The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGL Resources Inc. COM 001204106 4,583 106,924 SH   SOLE 0 0 0 0
Air Products & Chemicals Inc. COM 009158106 3,366 36,755 SH   SOLE 0 0 0 0
Alliant Energy Corp COM 018802108 4,583 90,889 SH   SOLE 0 0 0 0
Altria Group Inc COM 02209S103 2,990 85,459 SH   SOLE 0 0 0 0
Ameren Corporation COM 023608102 4,604 133,687 SH   SOLE 0 0 0 0
American Electric Power Co. COM 025537101 4,818 107,600 SH   SOLE 0 0 0 0
AT&T Inc. COM 00206R102 4,248 120,000 SH   SOLE 0 0 0 0
Atmos Energy Corp. COM 049560105 2,442 59,468 SH   SOLE 0 0 0 0
B&G Foods Inc. COM 05508R106 2,530 74,300 SH   SOLE 0 0 0 0
Bristol-Myers Squibb Co. COM 110122108 4,152 92,904 SH   SOLE 0 0 0 0
CenterPoint Energy Inc. COM 15189T107 4,266 181,600 SH   SOLE 0 0 0 0
Chevron Corp. COM 166764100 2,367 20,000 SH   SOLE 0 0 0 0
Cliffs Natural Resources COM 18683K101 406 25,000 SH   SOLE 0 0 0 0
Clorox Co. COM 189054109 4,573 55,000 SH   SOLE 0 0 0 0
CMS Energy Corp. COM 125896100 4,271 157,179 SH   SOLE 0 0 0 0
Conagra Inc. COM 205887102 1,746 50,000 SH   SOLE 0 0 0 0
ConocoPhillips COM 20825C104 4,174 69,000 SH   SOLE 0 0 0 0
Consolidated Edison Inc. COM 209115104 4,420 75,801 SH   SOLE 0 0 0 0
Darden Restaurants Inc. COM 237194105 2,221 44,000 SH   SOLE 0 0 0 0
Dominion Resources Inc. COM 25746U109 4,693 82,600 SH   SOLE 0 0 0 0
Dow Chemical COM 260543103 2,027 63,000 SH   SOLE 0 0 0 0
Dr Pepper Snapple Group COM 26138E109 2,296 50,000 SH   SOLE 0 0 0 0
DTE Energy Co. COM 233331107 4,841 72,240 SH   SOLE 0 0 0 0
Duke Energy Corp. COM 26441C204 4,097 60,700 SH   SOLE 0 0 0 0
Dupont E.I. De Nemours COM 263534109 2,336 44,500 SH   SOLE 0 0 0 0
Emerson Electric Co. COM 291011104 1,145 21,000 SH   SOLE 0 0 0 0
Entergy Corp. COM 29364G103 4,069 58,395 SH   SOLE 0 0 0 0
Exelon Corp. COM 30161N101 3,243 105,010 SH   SOLE 0 0 0 0
Firstenergy Corp. COM 337932107 3,724 99,743 SH   SOLE 0 0 0 0
General Electric Co. COM 369604103 4,680 201,800 SH   SOLE 0 0 0 0
Integrys Energy Group Inc. COM 45822P105 4,429 75,679 SH   SOLE 0 0 0 0
Intel Corp. COM 458140100 2,171 89,600 SH   SOLE 0 0 0 0
Johnson & Johnson COM 478160104 2,215 25,800 SH   SOLE 0 0 0 0
Kimberly-Clark Corp. COM 494368103 4,954 51,000 SH   SOLE 0 0 0 0
Kraft Foods Group Inc. COM 50076Q106 4,749 85,000 SH   SOLE 0 0 0 0
Leggett & Platt Inc. COM 524660107 3,317 106,700 SH   SOLE 0 0 0 0
Lockheed Martin Corp. COM 539830109 4,892 45,100 SH   SOLE 0 0 0 0
Merk & Co Inc. COM 58933Y105 4,645 100,000 SH   SOLE 0 0 0 0
Metlife Inc. COM 59156R108 0 10 SH   SOLE 0 0 0 0
Microchip Technology Inc COM 595017104 2,012 54,000 SH   SOLE 0 0 0 0
National Westminster Bank PLC PFD 638539882 5,901 235,000 SH   SOLE 0 0 0 0
Newtek Business Services, Inc. COM 652526104 25 12,000 SH   SOLE 0 0 0 0
Nextera Energy Inc. COM 65339F101 4,791 58,800 SH   SOLE 0 0 0 0
Nisource Inc. COM 65473P105 2,592 90,500 SH   SOLE 0 0 0 0
PEPCO Holdings Inc. COM 713291102 4,408 218,674 SH   SOLE 0 0 0 0
Pfizer Inc. COM 717081103 3,081 110,000 SH   SOLE 0 0 0 0
PG&E Corp. COM 69331C108 4,833 105,676 SH   SOLE 0 0 0 0
Philip Morris Int'l COM 718172109 866 10,000 SH   SOLE 0 0 0 0
Pinnacle West Capital COM 723484101 3,373 60,800 SH   SOLE 0 0 0 0
PPL Corp. COM 69351T106 4,093 135,259 SH   SOLE 0 0 0 0
Proctor & Gamble Co. COM 742718109 4,311 56,000 SH   SOLE 0 0 0 0
Public Svc Enterprise Group COM 744573106 4,577 140,127 SH   SOLE 0 0 0 0
Raytheon Co. COM 755111507 4,628 70,000 SH   SOLE 0 0 0 0
Resolute Forest Products COM 76117W109 251 19,026 SH   SOLE 0 0 0 0
Reynolds American Inc. COM 761713106 3,144 65,000 SH   SOLE 0 0 0 0
RPM International Inc. COM 749685103 639 20,000 SH   SOLE 0 0 0 0
SCANA Corp. COM 80589M102 4,228 86,100 SH   SOLE 0 0 0 0
Southern Co. COM 842587107 3,839 87,000 SH   SOLE 0 0 0 0
Sysco Corp. COM 871829107 3,990 116,800 SH   SOLE 0 0 0 0
TECO Energy Inc COM 872375100 4,158 241,900 SH   SOLE 0 0 0 0
Time Warner Cable Inc. CL A 88732J207 207 1,844 SH   SOLE 0 0 0 0
Vanguard EMR MKT EFT 922042858 61,727 1,591,100 SH   SOLE 0 0 0 0
Vanguard TOT STK MKT EFT 922908769 71,617 866,300 SH   SOLE 0 0 0 0
Vanguard VALUE EFT 922908744 23,603 349,100 SH   SOLE 0 0 0 0
Vanguard MSCI EAFE ETF 921943858 33,211 932,900 SH   SOLE 0 0 0 0
Vectren Corp. COM 92240G101 4,695 138,793 SH   SOLE 0 0 0 0
Verizon Communications Inc. COM 92343V104 3,020 60,000 SH   SOLE 0 0 0 0
Waste Management Inc. COM 94106L109 4,444 110,200 SH   SOLE 0 0 0 0
Westar Energy Inc. COM 95709T100 4,558 142,623 SH   SOLE 0 0 0 0
Windstream Corp. COM 97381W104 2,246 291,300 SH   SOLE 0 0 0 0
Xcel Energy Inc. COM 98389B100 4,810 169,709 SH   SOLE 0 0 0 0